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North Cook News

Wednesday, February 19, 2020

Q4 real estate sales report: Elgin

Real Estate

By Local Labs News Service | Apr 21, 2019

Re 10

Median prices rose in Elgin over last year, and are up 6.6 percent over 10 years, adjusted for inflation, according to fourth quarter sales data collected by BlockShopper.com.

From October to December, 362 homes sold in Elgin for a median price of $187,000. That's 4.2 percent higher than median home sale prices for the fourth quarter of 2017.

In the fourth quarter, 12 homes in Elgin were in foreclosure.

Median property tax for homeowners in Elgin was $4,798.62 in 2017 according to tax data from that year. That means homeowners pay 2.7 percent of their home's value in taxes.

Statewide, Illinois homeowners pay an effective property tax rate of 2.2 percent, according to a 2017 property tax analysis by ATTOM Data Solutions, ranking it second among U.S. states and the District of Columbia.

Elgin real estate: Q4 2009-2018
Properties sold
Median sale price
Change in sale price
2009
375
$175,500
-
2010
282
$158,973
-9.4%
2011
395
$129,837
-18.3%
2012
502
$113,360
-12.7%
2013
519
$135,000
19.1%
2014
502
$150,255
11.3%
2015
402
$163,240
8.6%
2016
440
$179,550
10%
2017
399
$179,520
-0%
2018
362
$187,000
4.2%

Median property tax
Median sale price
Effective property tax rate
2009
$5,177.48
$175,500
3%
2010
$5,047.86
$158,973
3.2%
2011
$4,899.95
$129,837
3.8%
2012
$4,521.97
$113,360
4%
2013
$3,937.78
$135,000
2.9%
2014
$4,385.09
$150,255
2.9%
2015
$4,752.43
$163,240
2.9%
2016
$4,894.80
$179,550
2.7%
2017
$4,798.62
$179,520
2.7%

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